Due to the fact that Cyprus by means of Cyprus resident companies is involved in massive transactions on an international level, it is inevitable that arbitration plays a crucial role in the process since litigation in Cyprus would prove complicated and inefficient in transactions involving a number of jurisdictions. International activities in Cyprus have increased and the use and need of arbitration as a dispute resolution method is more evident than ever before.
Cyprus may be used as the seat of arbitration (i.e. as the legal system which governs the system of arbitration) and parties may take advantage of its improved infrastructure, the advanced legal services the island has to offer and its sophisticated legal system which is mostly similar to the well advanced English legal system.
Commercial international arbitrations cover matters arising from all relationships of a commercial nature, whether contractual or not and relationships of a commercial nature include, inter alia, commercial representations or agency, financing, banking, consulting, insurance, investment, joint ventures and other forms of industrial or business co-operations and more.
The firm is able to draft arbitration clauses, either in the form of arbitration clauses incorporated in commercial agreements of any kind or arbitration agreements governing ad hoc arbitration procedures. Moreover, the firm can act as legal counsel representing a party in an arbitration procedure, attending preliminary meetings, preparing pleadings and handling the whole hearing of the claim.
A detailed analysis as to how Cyprus may be involved in arbitral proceedings may be found here.